“It’s a case of do or die for stablecoin issuers,” said Hirander Misra, chairman of market infrastructure provider GMEX Group. “They will have to prove they have proper reserves and be transparent in terms of being audited, or else will be ultimately forced to cease to exist.” In Bloomberg’s article highlighting the growth of the $150 billion stablecoin market, Hirander voices out his opinions about the scrutiny stablecoins have received from authorities following the $40 billion collapse of stablecoin pair TerraUSD and Luna this year.
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